AppDirect, a San Francisco-based B2B subscription commerce platform, has acquired TBI, another technology service aggregator.
Combining AppDirect and TBI is expected to help advisors accelerate growth through an extensive multi-category catalog, the ability to offer more value-added services, and provide enhanced customer service.
“This is a crowning achievement that gives shape to the relationship-based marketplace approach we believe is the way of the future for B2B commerce,” said Nicolas Desmarais, Chairman and CEO, AppDirect. “By combining the power of our platform and our entire ecosystem with TBI’s approach to the advisor-business relationship, we can provide a level of service for advisors that goes well beyond what has been achieved before.”
“Our advisors will now have access to the world’s most diversified and largest catalog of technology solutions, making it easier for them to sell and cross-sell a much greater range of products to their customers, and drive new sources of revenue,” said Geoffrey Shepstone, President, TBI. “They will also be able to manage their entire business in one place. The AppDirect platform provides businesses and partners with access to identity management, data visualization, workflow, and applications management solutions to help them manage all of their technology through the AppDirect Marketplace.”
CDPQ, a global investment group and investor in AppDirect since 2020, provided primary financing to AppDirect for this acquisition. Additionally, Mesirow Investment Banking served as the exclusive financial advisor and Vedder Price served as legal advisor to TBI on this transaction.
Terms of the sale were not disclosed.
This combination significantly increases AppDirect’s existing contingent of technology advisors. TBI’s engineering and educational resources will provide an enhanced level of support and enablement.